What is 'initial term' in SAP SAP-LEGAL - Global Field Legal?

initial term - Overview

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: The period of time i between the date SAP has started to provide SAP Enterprise Support to PARTNER for the first time with regards to a particular End User and ii December, 31st of the next full calendar year following such date.

initial term - Details

• 
  Key Concepts: 
  Initial term is a term used in SAP-LEGAL Global Field Legal. It is a term used to describe the initial period of a contract or agreement. This period is usually the first few months of the contract and is used to set the terms and conditions of the agreement. 
  
  How to use it: 
  The initial term of a contract or agreement is typically set at the beginning of the contract. During this period, both parties will agree on the terms and conditions of the agreement. This includes things such as payment terms, delivery dates, and any other relevant details. Once this period has been agreed upon, it will become part of the contract and will be binding for both parties. 
  
  Tips & Tricks: 
  When setting an initial term for a contract or agreement, it is important to make sure that both parties are in agreement with all of the terms and conditions. It is also important to make sure that all relevant details are included in the initial term so that there are no misunderstandings later on. 
  
  Related Information: 
  For more information on SAP-LEGAL Global Field Legal, please visit https://www.sap.com/products/legal-global-field-legal.html.